Gas prices in Europe fall 5%

Stock exchange gas prices in Europe for the first time since April were below $950 per 1,000 cubic meters, having decreased by 5% compared to May 20 settlement price, Report informs referring to the London Stock Exchange ICE.

June gas futures - according to the index of the largest European hub TTF - have been trading in the red since the opening of the session. The first futures contracts were sold for $909.7 per 1,000 cubic meters, which is 5.6% lower than the settlement price of the previous day of trading - $963.4, by 10:00 (GMT+4) they were at the level of $914 per 1,000 cubic meters (-5%).

The last time the decline to $950 was recorded on April 19. Then the price minimum was $949.2. Gas prices in Europe this year rose sharply after the outbreak of hostilities in Ukraine: on February 23, the settlement price of the nearest futures was $1,038.6 per 1,000 cubic meters, and on February 24 it jumped by almost 50% to $1,555.5.